Urban Outfitters (NASDAQ:URBN) Price Target Raised to $73.00

Urban Outfitters (NASDAQ:URBN) had its price target raised by Barclays from $59.00 to $73.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Barclays‘s price objective would suggest a potential upside of 18.85% from the stock’s current price.

URBN has been the topic of several other reports. StockNews.com lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Robert W. Baird increased their price objective on shares of Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. UBS Group boosted their price objective on shares of Urban Outfitters from $45.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their target price on Urban Outfitters from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $59.00 price target on shares of Urban Outfitters in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.27.

Urban Outfitters Trading Down 2.2%

Shares of NASDAQ:URBN opened at $61.42 on Tuesday. Urban Outfitters has a 1-year low of $33.86 and a 1-year high of $63.21. The stock has a market capitalization of $5.69 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.02 and a beta of 1.33. The business has a 50-day moving average price of $51.43 and a two-hundred day moving average price of $51.63.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities analysts predict that Urban Outfitters will post 3.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Wesley S. Mcdonald sold 8,300 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $58.44, for a total transaction of $485,052.00. Following the completion of the transaction, the director now owns 15,450 shares in the company, valued at approximately $902,898. This represents a 34.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tricia D. Smith sold 10,000 shares of Urban Outfitters stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $53.94, for a total transaction of $539,400.00. Following the completion of the sale, the chief executive officer now directly owns 12,601 shares in the company, valued at approximately $679,697.94. This represents a 44.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,976 shares of company stock valued at $1,663,713 in the last 90 days. 31.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Outfitters

A number of large investors have recently bought and sold shares of URBN. Bayforest Capital Ltd bought a new position in shares of Urban Outfitters during the 1st quarter worth $442,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Urban Outfitters by 10.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,668 shares of the apparel retailer’s stock worth $7,476,000 after purchasing an additional 13,554 shares in the last quarter. Empowered Funds LLC raised its position in shares of Urban Outfitters by 28.4% in the first quarter. Empowered Funds LLC now owns 197,660 shares of the apparel retailer’s stock valued at $10,357,000 after purchasing an additional 43,663 shares during the period. Caxton Associates LLP bought a new position in Urban Outfitters in the 1st quarter worth approximately $1,342,000. Finally, Sciencast Management LP purchased a new position in Urban Outfitters in the 1st quarter valued at approximately $1,794,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.